Transfer from 1 bank to another, how long?

29-12-2008 1:07pm #1

hi

was told last monday that money was being transfered that day to my boi account. i still havent recieved this so i am wondering how long does it take clear a transfer of money from 1 bank to another (irish) as i recal my brother doing it really fast before. i understand it is xmas and banking hours are limited.but to me it is taking a bit too long

any help would be welcome

thank you

samhail · 29-12-2008 1:10pm

officially 3-5 working days. so with 2 bank holidays last week should be there today/tomorrow.

I had a few thousand transferred from BOI to AIB just before xmas (the monday b4 xmas(15th i think)) and wanted it to go through b4 xmas, but all of a sudden got changed from 3-5 working days to 8. so my money wont be transfered until monday 5th jan.

29-12-2008 1:21pm

thanks,just a bit worried as i am heading away next monday and it will be very hard to chase it up after that.
not sure what bank he is transferring from but fingers crossed it will be there 2moro or the day

thanks for the quick response

broker2008 · 30-12-2008 1:20am

I would think it depends on whether it was cash or not. I recall my sister lodging cash into one branch of NIB only to be told that it would take 3 days to "clear" before it would be lodged to NIB account in another branch. Admittedly a couple of years ago and prior to Danske arriving on board.

GerardKeating · 30-12-2008 9:50am

Deleted User wrote: »

hi

was told last monday that money was being transfered that day to my boi account. i still havent recieved this so i am wondering how long does it take clear a transfer of money from 1 bank to another (irish) as i recal my brother doing it really fast before. i understand it is xmas and banking hours are limited.but to me it is taking a bit too long

any help would be welcome

thank you

With in the same BANK (AIB-AIB) it should be instant, even for a cash lodgement to a branch.

With InterBank, as others mention 3-5 working days, but remember we just had THREE bank holidays in a row (25/26/29), so 5 workings days from last monday (December 22nd) would be Jan 2nd 2009 at the latest, but today is the third working day, so you might be lucky.

Gordon · 30-12-2008 9:58am

Does Ireland have the Faster Payment system? Some banks in Britain have got it set up where a transfer can be less than 2 hours. HSBC, Barclays and LTSB afaiu, could be more involved.

vibe666 · 30-12-2008 10:22am

3-5 full working days from one iridsh bank to another.

FYI in case you weren't aware, it's perfectly within the capabilities of all the irish banks to do transfers the same day, but they have all chosen not to so that they can use the money whilst it's in limbo to invest in overnight markets. think how much money is transferred this way each day.

for 3-5 days that money doesn't belong to either the sending or receiving account and the banks make a rake of profit from using it in short term investments.

my sister sent me about €75 around four years ago on my birthday from her regular bank account in the netherlands. all she had was my name, account no. and sort code (no bacs, chaps, swift or iban codes or personal details, or any of that nonsense you need to send money internationally FROM ireland) and it was done and sitting in my Irish account as available funds within 2 hours of her sending the money, which incidentally she did from home via her internet banking site.

Ireland still has a lot of catching up to do.

jankun · 15-01-2009 12:03pm

vibe666 wrote: »

3-5 full working days from one iridsh bank to another.

FYI in case you weren't aware, it's perfectly within the capabilities of all the irish banks to do transfers the same day, but they have all chosen not to so that they can use the money whilst it's in limbo to invest in overnight markets. think how much money is transferred this way each day.

for 3-5 days that money doesn't belong to either the sending or receiving account and the banks make a rake of profit from using it in short term investments.

my sister sent me about €75 around four years ago on my birthday from her regular bank account in the netherlands. all she had was my name, account no. and sort code (no bacs, chaps, swift or iban codes or personal details, or any of that nonsense you need to send money internationally FROM ireland) and it was done and sitting in my Irish account as available funds within 2 hours of her sending the money, which incidentally she did from home via her internet banking site.

Ireland still has a lot of catching up to do.

Wierd. Poland Interbanking has couple hours transfer is within business hours, or next working day morning if after business hours.

Paylink EURO (free of charge) from AIB to Poland takes less than 2 days (monday morning transfer request, tuesday afternoon money in the Polish bank). Paylink EURO Urgent (12 EUR charge) goes within 2 hours to Polish account!

So I don't understand so long transfers within Ireland. Looks like someone is investing someone's else money here.

dvdfan · 11-09-2009 2:13am

Is there any difference in the time it will take to reach the account if i transfer online via AIB to BOI or walk into BOI and deposit the cash in the account. I can do an online transfer AIB > AIB account instantly but from above looks like it will take 3-5 days to clear, is this also the same if i walk into BOI and deposit cash into someone elses account. I dont have a BOI account btw

BuffyBot · 11-09-2009 5:58am

Cash deposit should be pretty much instant.

Transfer from 1 bank to another, how long?

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